Canada to invest C$1.6 billion in climate change adaptation strategy

Canada on Thursday released its first-ever national climate change adaptation strategy, which includes C$1.6 billion ($1.2 billion) in new federal funding commitments aimed at protecting people from the growing effects of global warming.

Canada, like many other countries around the world, is experiencing an increase in extreme weather due to climate change. The government predicts that average annual losses from natural disasters will reach C$15.4 billion by 2030.

According to government officials, the goal of developing an adaptation strategy is to reduce damage through federal policies and investments. Studies show that every dollar allocated to adaptation measures saves up to C$15 dollars in costs, which include both direct and indirect benefits to the entire economy, the government said.

Federal Environment Minister Steven Guilbeau stressed in a statement that we have to start fighting climate change soon. Not only do we need to reduce the emissions that are causing the climate change now, but we also need to adapt to the coming changes.

Canada is the world's fourth largest oil producer and the second largest carbon dioxide emitter per capita among the G20 countries.